Rothschild & Co Redburn Reaffirms "Neutral" Rating for Flutter Entertainment (NYSE:FLUT)

Key Points

• Rothschild & Co Redburn reaffirmed a “Neutral” rating on Flutter Entertainment but cut its price target from $169 to $119, implying roughly 33% upside from the prior close.
• Analyst sentiment remains broadly positive, with Flutter carrying a “Moderate Buy” consensus rating and an average price target of $155.48, despite targets ranging from $113 to $150 among recent analysts.
• Flutter’s latest quarter included $4.33 billion in revenue, ahead of estimates, but EPS of $0.49 missed consensus by $0.05; the stock opened at $89.47, near its 52-week low of $89.34.

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at Rothschild & Co Redburn in a research note issued on Monday, Benzinga reports. They presently have a $119.00 price objective on the stock, down from their prior price objective of $169.00. Rothschild & Co Redburn's price objective points to a potential upside of 33.00% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. Truist Financial cut their price target on shares of Flutter Entertainment from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, July 8th. Wolfe Research initiated coverage on shares of Flutter Entertainment in a research report on Wednesday, September 2nd. They set an "outperform" rating and a $150.00 target price on the stock. Zacks Research cut shares of Flutter Entertainment from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Finally, BTIG Research reduced their price target on shares of Flutter Entertainment from $120.00 to $113.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $155.48.

Flutter Entertainment Stock Down 0.1%

Flutter Entertainment stock opened at $89.47 on Monday. The stock's 50 day moving average price is $100.78 and its 200 day moving average price is $103.16. Flutter Entertainment has a 1-year low of $89.34 and a 1-year high of $287.44. The company has a market cap of $15.53 billion, a PE ratio of -20.81, a price-to-earnings-growth ratio of 2.27 and a beta of 1.26. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). The business had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. On average, sell-side analysts predict that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert Coldrake sold 710 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $69,480.60. Following the sale, the chief financial officer directly owned 22,778 shares in the company, valued at $2,229,055.08. The trade was a 3.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don Liu sold 565 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the sale, the insider directly owned 20,441 shares in the company, valued at approximately $2,000,356.26. The trade was a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 6,681 shares of company stock worth $644,214. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock valued at $40,000 after buying an additional 90 shares in the last quarter. LM Advisors LLC purchased a new position in Flutter Entertainment during the fourth quarter worth $46,000. Parallel Advisors LLC increased its position in Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company's stock worth $47,000 after buying an additional 382 shares in the last quarter. CX Institutional raised its holdings in shares of Flutter Entertainment by 729.7% in the second quarter. CX Institutional now owns 531 shares of the company's stock worth $54,000 after acquiring an additional 467 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Flutter Entertainment by 167.8% in the second quarter. Allworth Financial LP now owns 557 shares of the company's stock worth $57,000 after acquiring an additional 349 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter's portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.

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